Just a note, there is an entry point for USDJPY now. The PSAR dot is below the BB band.
Hi Chin Liang,
I am also a fellow Singaporean. I was wondering what pair did you trade on to lose 600 pips? I saw from my chart that there wasn’t any valid entry point for the 5 currency pair that you suggestd…
I personally would not take this trade as i try to only trade in the direction of the trend based on daily chart using the ADX indicator. you will get less signals this way but for me it has been far more accurate. 
I agree with you unless it close up 101.04
I am trying to learn MT4; question - I got the ADX on the chart but can’t find DMI in the Indicator List, where is it? Thanks in advance, d.
Love this strategy but did take some neg. hits late last week and Mon this week so ADX DMI may keep me out of some bad ones.
The DMI is part of the ADX…you should have 3 lines with the ADX…one is the ADX itself, the other 2 are the green DI+ (uptrend line) and the red DI-(down trend line)
Hope that helps
Hi there, thanks for pointing that out. Just a quick check, can you explain how should I use the ADX to help me determine the trend? I vaguely remember seeing it being mentioned somewhere in the thread but was thinking maybe you can share it with me again?
Thanks.
Basically, a value > 20 on the ADX indicates a trending market. A reading below 20 indicates a choppy market. The DMI is used to indicate if that trend is up or down.
Thanks for the help! Just one more question. So we apply this DMI and ADX to the daily chart and when the green line goes above the red line coupled with the condition set for the icycloud trading system then its considered a valid entry?
Cheers!
Yes - apply both ADX and DMI to the daily chart.
Colors are user configurable but most default settings have DMI+ as the green line and DMI- as the red line so…
If DMI+ is greater than DMI- you should be considering a long position.
If DMI+ is less than DMI- you should be considering a short position.
PD
I think there is another valid trade for the GBP/USD now. The indicators look pretty decent. Inclusive of DMI this time round
TO: Sweet P. & Pip D. -
Thank you very much for the help, I feel this will get me more positive trades albeit probably fewer. Thanks again, d.
Hi, I am new here – I read this thread through and started looking through some of my past charts and took several of the pointers I saw from others throughout the thread. I was thinking about trying this out if I got the chance to see a signal…
GBP/USD showed the short signal this morning when I first started looking at my charts. I drilled into the time frames to see if I could short on a quick retrace after the dot showed on my 3 hour charts. I took this one at 08:05 EST today and I am currently looking at a P/L of 95.6 pips.
I did look at the ADX as well as a full stochastic (14,3,3) just to get some confirmation of the signal.
This looks like there are still some false flags, but for the most part this system is a great tool to add to the toolbox. Thanks all for the help!!
There is another valid entry for AUD/USD right now. Grab it if you are in time. Cheers!
Got it. If this one works as well, I may have to set up a whole separate trading profile just to troll for these setups!!
Out of curiosity – I see that when the BB opens up on a short, or on a long it seems like the trend rate increases – I have seen this at several differnt points on different charts. Anyone else correlate this?
just wanted to say that I love this system. I’ve never lost more than 60 pips in a trade due to money management and have been +600pips this month so far. I’ve only demo traded for two months but up 900pips in 2 months is pretty damn good. Thanks ICY
Hi there,
I was wondering if you can share with us your money management practice for this system?
Cheers!
Yup money management tips pls.
My only MM technique is to limit my trade size but follow PSAR as exit singal strictly. The stops may be 100 pips away but the size makes it bearable. I then use a daily trend filter to get in the right direction. I want the system to be easy to manage where a trade can be left alone comfortably. I’m up about 500 pips for March.
Anyway, looking at all our posts, this shows that even with the same general system, people have their own styles so entry and exit point is not the same. Very interesting.
I want to thank those that explained and helped me load the ADX/DMI indicators. Last night I placed a Limit Sell for the L/$ at 1.9938 and my TP @ 1.9838 was hit at 7:27 this morning. I entered because of the confidence I had in the trade due to the ADX/DMI plus of course Icy C.'s original strategy. Thanks again, d.
edit: +100 pips and a good night’s sleep, what could be nicer?
hi
did you put ADX DMI on diffult what that 14 or another setting